Tony Vinciquerra of Sony Pictures to step down

Tony Vinciquerra, the TV industry veteran who revived Sony Pictures Entertainment and established it as an “arms dealer” to streaming services, will step down as chair and chief executive of the group early next year.

Vinciquerra, 70, joined Sony in 2017. After arriving he sold off most of Sony’s international cable TV assets as consumers “cut the cord” and signed up for streaming services.

He also decided against launching a streaming service, opting instead to be an “arms dealer” that licensed Sony-produced shows such as “The Crown” and “Better Call Saul”.

The strategy kept Sony Pictures profitable even as the streaming wars shook much of Hollywood.

Vinciquerra will be replaced by Ravi Ahuja, 53, a former Disney and Fox executive who heads Sony’s television studios.